The Charles Schwab Co. Forecasted to Earn Q2 2024 Earnings of $0.85 Per Share (NYSE:SCHW)

The Charles Schwab Co. (NYSE:SCHW) – William Blair boosted their Q2 2024 earnings per share estimates for Charles Schwab in a research note issued on Tuesday, April 16th. William Blair analyst J. Schmitt now expects that the financial services provider will earn $0.85 per share for the quarter, up from their previous estimate of $0.82. The consensus estimate for Charles Schwab’s current full-year earnings is $3.40 per share. William Blair also issued estimates for Charles Schwab’s Q3 2024 earnings at $0.90 EPS, Q4 2024 earnings at $0.96 EPS, FY2024 earnings at $3.45 EPS and Q3 2025 earnings at $1.08 EPS.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings data on Wednesday, January 17th. The financial services provider reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.04. The company had revenue of $4.46 billion during the quarter, compared to analyst estimates of $4.49 billion. Charles Schwab had a return on equity of 19.86% and a net margin of 26.14%. The firm’s revenue for the quarter was down 18.9% compared to the same quarter last year. During the same period in the prior year, the business posted $1.07 earnings per share.

SCHW has been the topic of a number of other reports. Deutsche Bank Aktiengesellschaft upped their price target on Charles Schwab from $75.00 to $77.00 and gave the stock a “buy” rating in a research note on Tuesday, March 19th. JMP Securities restated a “market outperform” rating and issued a $80.00 price target on shares of Charles Schwab in a research note on Tuesday. Barclays raised their price objective on Charles Schwab from $74.00 to $75.00 and gave the stock an “equal weight” rating in a report on Tuesday. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $71.00 price objective (up previously from $70.00) on shares of Charles Schwab in a report on Wednesday, January 3rd. Finally, Piper Sandler raised their price objective on Charles Schwab from $75.00 to $78.00 and gave the stock an “overweight” rating in a report on Friday, April 12th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Charles Schwab presently has an average rating of “Hold” and a consensus target price of $74.47.

Charles Schwab Trading Down 0.8 %

Charles Schwab stock traded down $0.57 during mid-day trading on Wednesday, hitting $72.50. The company’s stock had a trading volume of 9,667,958 shares, compared to its average volume of 7,747,594. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.82. The stock’s fifty day moving average is $67.97 and its two-hundred day moving average is $62.75. Charles Schwab has a 1 year low of $45.65 and a 1 year high of $73.83. The firm has a market capitalization of $128.76 billion, a PE ratio of 30.57, a price-to-earnings-growth ratio of 1.08 and a beta of 1.01.

Charles Schwab Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Friday, February 9th were paid a $0.25 dividend. The ex-dividend date was Thursday, February 8th. This represents a $1.00 annualized dividend and a yield of 1.38%. Charles Schwab’s payout ratio is currently 41.84%.

Insiders Place Their Bets

In other news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the business’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $70.87, for a total transaction of $637,830.00. Following the completion of the sale, the director now directly owns 581,457 shares of the company’s stock, valued at approximately $41,207,857.59. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Chairman Charles R. Schwab sold 16,390 shares of the company’s stock in a transaction on Wednesday, January 24th. The shares were sold at an average price of $63.94, for a total transaction of $1,047,976.60. Following the completion of the sale, the chairman now directly owns 61,331,688 shares of the company’s stock, valued at approximately $3,921,548,130.72. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the company’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $70.87, for a total transaction of $637,830.00. Following the sale, the director now directly owns 581,457 shares of the company’s stock, valued at $41,207,857.59. The disclosure for this sale can be found here. In the last three months, insiders sold 216,584 shares of company stock valued at $14,200,769. Company insiders own 6.60% of the company’s stock.

Institutional Trading of Charles Schwab

A number of institutional investors have recently added to or reduced their stakes in the business. New Mexico Educational Retirement Board lifted its holdings in Charles Schwab by 13.1% in the 1st quarter. New Mexico Educational Retirement Board now owns 87,387 shares of the financial services provider’s stock worth $6,322,000 after buying an additional 10,100 shares in the last quarter. Guidance Capital Inc. acquired a new position in Charles Schwab in the 1st quarter worth $928,000. Investment Research & Advisory Group Inc. lifted its holdings in Charles Schwab by 5.5% in the 1st quarter. Investment Research & Advisory Group Inc. now owns 62,250 shares of the financial services provider’s stock worth $4,503,000 after buying an additional 3,271 shares in the last quarter. Grimes & Company Inc. lifted its holdings in Charles Schwab by 2.1% in the 1st quarter. Grimes & Company Inc. now owns 354,819 shares of the financial services provider’s stock worth $25,668,000 after buying an additional 7,197 shares in the last quarter. Finally, WoodTrust Financial Corp lifted its holdings in Charles Schwab by 3.3% in the 1st quarter. WoodTrust Financial Corp now owns 31,817 shares of the financial services provider’s stock worth $2,301,000 after buying an additional 1,017 shares in the last quarter. 84.38% of the stock is owned by hedge funds and other institutional investors.

About Charles Schwab

The Charles Schwab Corporation, together with its subsidiaries, operates as a savings and loan holding company that provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services in the United States and internationally. The company operates in two segments, Investor Services and Advisor Services.